Microencapsulation Market Growth 2024 by key players BASF, Dow Corning Corporation, Lipo Technologies, Ronald T. Dodge Company, Bayer AG, 3M, Evonik Industries AG
Chemical technology is expected to grow at a considerable rate during the forecast period owing to its avid application in pharma and cosmetics businesses. This technology comprises polycondensation, interfacial cross linking, etc. Interfacial cross-linking method is basically designed to minimize the usage of toxic diamine in the final applications.
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Microencapsulation Market size will likely surpass USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing awareness and demand for fortified food products added with increasing demand from the pharmaceutical industry for various applications, and emergence of new technologies are the key factors fueling the microencapsulation market.
Moreover, enhanced and uplifted product properties helped to drive the microencapsulation industry share. Expansion in pharma sector coupled with extensive research & developments in the healthcare field are driving the microencapsulated drugs market. The demand for microencapsulated drugs and probiotics is projected to witness an upward trend during the forecast period.
Microencapsulation market has been segregated in accord to core materials, coating materials, technology and application. Liquid core material held the major portion of the market due to its easy dispersion and dissolving characteristics. The material is widely used in pharmaceutical, cosmetics and food industry.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. BASF S.E.
2. Dow Corning Corporation
3. Lipo Technologies
4. Ronald T. Dodge Company
5. Balchem Corporation
8. Aveka, Inc.
9. Microtek Laboratories, Inc
10. Reed Pacific
11. Bayer AG.
13. Taste Tech Ltd
14. Evonik Industries AG
15. GAT Microencapsulation GmbH
16. Syngenta Crop Protection AG
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Widespread applications in several end-use sectors to enhance core product functionality is increasing the demand for microencapsulation. The market players are responding to these new opportunities by expanding their geographic presence and services. Increasing acceptance of specialty detergents & cleaning agents due to rising disposable income and changing consumer preferences in developed as well as developing countries will further boost the microencapsulation industry demand in future.
The specialty detergents with fragrance microencapsulation leave a lingering scent on laundered clothes for above 2 weeks. FMCG companies including Unilever and P&G use microencapsulation technology in fragrances, bleach activators, and anti-bacterial compounds due to its ability to improve core product specification, positively influencing the microencapsulation market size in the projected timeframe.
- Microencapsulation Market, by Technology
- Microencapsulation Market, by Application
• Food additives
• Household products
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The applications include food additives, agrochemicals, pharmaceuticals and house hold products. Demand for the technology in the food & beverage industry is estimated to progress at a CAGR close to 10%. Improved nutritional value of food products provided by the technique along with taste, color, texture, and aroma is the primary factor driving its demand in the sector.
Asia Pacific microencapsulation market will account for more than USD 2 billion in 2024. This can be ascribed to rising awareness regarding health & well-being among individuals coupled with increasing purchasing power and changing retail and dietary preferences.
The major companies in the microencapsulation market include 3M, Dow, Syngenta, Encapsys, BASF and Bayer.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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